Fiera Capital reports $1-million profit for third quarter

Fiera Capital Corporation’s net earnings were $1.1 million for the third quarter, a decline from $4.8 million last year.

Net earnings per share were 1 cent, up from a loss of 2 cents per share for Q3 2017.

Fiera’s revenues were $137.1 million in the period ended Sept. 30, an increase of 28% from $107.1 million in the third quarter last year. Organic growth, market appreciation and revenues from the Fiera Capital Emerging Markets Fund, created in June, were the main reasons for the rise, the company said Friday.

Fiera Capital’s assets under management (AUM) rose to $143.5 billion on Sept. 30, an increase of 17% from last year. Positive client inflows, the acquisition of Clearwater Capital Partners in August and a positive market performance accounted for the growth, said Fiera CEO Jean-Guy Desjardins in a release.

The firm’s dividend will stay the same at $0.20 per Class A subordinate voting share and Class B special voting share of Fiera Capital.